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Developer breaks ground on $35M multifamily project in Matthews

By Ashley Fahey  – Staff Writer, Charlotte Business Journal

A multifamily developer out of Greenville, North Carolina, has begun work on an apartment project in Matthews.

Taft Development Group is developing Residences Galleria, which will include 250 units — one-, two- and three-bedroom apartments as well as two- and three-bedroom townhouses. The $35 million project is being built on a 21.5-acre site at 10252 Monroe Road, on the Charlotte-Matthews border and across the street from Family Dollar’s headquarters.

Units will include interior finishes like granite countertops, plank floors and stand-up glass showers. Some of the townhouses will have garages. Community amenities include a clubhouse with a swimming pool and sundeck, yoga and fitness center, business lounge, pavilion, billiard room, and clubroom with a cooking demonstration area.

The project, previously called Proximity Matthews, was rezoned with the town of Matthews two years ago and Taft closed on the land in May 2017, paying $2.6 million, according to Mecklenburg County real estate records. Taft Development estimates pre-leasing for Residences Galleria to commence in late 2019 and that move-ins will begin in winter 2020.

This is the second project in the Charlotte metro for Taft Development Group, which also developed The Indigo at Cross Creek in Indian Land. The company says it is currently planning and developing 1,300 multifamily units, 300 single-family lots and 40,000 square feet of commercial space.

Taft Construction Group is the general contractor at Residences Galleria. The property will be managed by Taft Management Group. Interior design services are being provided by SouthPark Interiors. Urban Design Partners is handling site planning. Urban Architectural Group is the project architect. Financing is being provided by PGIM.

 

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